Three held for duping man of ₹20 lakh in Gautam Budh Nagar

With their arrest, the police claimed to have busted a gang of frauds who were running an ‘exchange scam’. The arrests were made on the basis of a complaint registered at the Bisrakh police station on April 1

Three suspects were arrested by Gautam Budh Nagar police on Thursday for allegedly duping a man of ₹20 lakh on the pretext of exchanging notes of larger denominations. The police recovered ₹25.50 lakh cash and a car from the three men, officials said on Friday.

On March 30, the victim handed over ₹20 lakh cash to the three accused and they allegedly gave him a bag filled with paper and fled the spot, said police. (Representative image)

With their arrest, the police claimed to have busted a gang of frauds who were running an ‘exchange scam’. The arrests were made on the basis of a complaint registered at the Bisrakh police station on April 1, where the complainant alleged that the accused duped him of ₹20 lakh.

“According to the complaint, the accused asked the victim to hand them cash of higher denomination notes in exchange of which they would give him lower denomination notes along with a 10% commission. In the beginning, the accused built the victim’s trust by giving back the amount as promised,” said Elamaran G, additional deputy commissioner of police (Central Noida).

The three suspects have been identified as Harshad alias Mahesh, who hails from Gujarat, Pawan Kumar and Arvind Kumar — both natives of Firozabad. The three were presently residing in rented accommodations in high-rise societies in Greater Noida West. While Harshad and Pawan were living in Gaur City-2, Arvind was residing in Eco Village-1.

Arvind was known to the victim and acted as the middleman, police said. The cash exchange used to take place at secluded places in Greater Noida West, added police.

On March 30, the victim handed over ₹20 lakh cash to the three accused and they allegedly gave him a bag filled with paper and fled the spot, said police.

After the FIR was registered on April 1, Arvind was arrested the very next day from his residence at Eco Village-1. On the basis of his tip-offs, the other two accused were also traced by the police and arrested on Thursday evening.

“On interrogation, it has been revealed that the gang has been operating in the Delhi-NCR area for the last one year and have also committed two other frauds of ₹5 lakh and ₹ 25 lakh in Gautam Budh Nagar district. Harshad was in jail in Gujarat, while criminal antecedents of Pawan and Arvind are being verified,” said Elamaran G, adding that Harshad has studied till class 3, while Pawan has studied till class 10 and Arvind has completed his schooling till class 12.

“A fourth accused, identified as Guddu Khan, a resident of Chhalera in Sector-44 is still absconding”, Elamaran G added.

The three accused have been booked under Section 420 (cheating) of the Indian Penal Code (IPC).